124 Westexe South Management Company Limited - Period Ending 2017-10-31

Registration number: 07130474

124 Westexe South Management Company Limited

(A company limited by guarantee)

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2017

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

124 Westexe South Management Company Limited
(Registration number: 07130474)

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 4

124 Westexe South Management Company Limited
(Registration number: 07130474)

Company Information

Directors

A J Spedding A M Spedding

Registered office

28 Alexandra Terrace Exmouth Devon EX8 1BD

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Page 1

124 Westexe South Management Company Limited
(Registration number: 07130474)

Balance Sheet as at 31 October 2017

	Note	2017 £	2016 £
Current assets
Debtors	3	89	91
Cash at bank and in hand		1,613	909
		1,702	1,000
Creditors: Amounts falling due within one year	4	(1,702)	(1,000)
Net assets/(liabilities)		-	-
Capital and reserves
Total equity		-	-

For the financial year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 July 2018 and signed on its behalf by:
 

.........................................

A J Spedding

Director

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 2

124 Westexe South Management Company Limited
(Registration number: 07130474)

Notes to the Financial Statements for the Year Ended 31 October 2017

1	General information

The company is a company limited by guarantee incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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124 Westexe South Management Company Limited
(Registration number: 07130474)

Notes to the Financial Statements for the Year Ended 31 October 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Debtors

	2017 £	2016 £
Sinking fund	89	91
Total current trade and other debtors	89	91

4

Creditors

	2017 £	2016 £
Due within one year
Accrued expenses	1,702	1,000

5	Transition to FRS 102

This is the first year that the company has presented its results under FRS102. The last financial statemnts under previous UK GAAP were for the period ended 31 October 2016 and the date of transistion was 1 November 2015. The changes in accounting policies brought about through the transistion from UK GAAP as previously reported to FRS 102 have had no effect on the proit for the period to 31 October 2016 or total equity as at 1 November 2015 and 31 October 2016.

Page 4